When I complete my annual Federal Financial Report and I show an unobligated balance of Federal funds, what becomes of that amount? Does it affect my matching or cost-sharing requirement?
The answer to this question depends, in part, on the duration of the budget period. If you have a 1-or 2- year budget period and there are additional budget periods in the approved project period, an unobligated balance of Federal funds may be carried over to the next budget period with ONC approval. Those funds will be used to offset the amount of new Federal funding for that budget period unless you request and receive ONC approval to use them as additional authority, which would increase your authorized Federal funding, and, unless you have a negotiated cost-sharing amount, require an upward adjustment in required matching or cost sharing. If your budget period and project period are of the same duration, ONC funds shown as unobligated in your annual Federal Financial Report are available for the entire project period and may be used in a subsequent year without any additional ONC approval.